Rice Partnership LLC Has $7.29 Million Stock Holdings in Micron Technology, Inc. $MU

Rice Partnership LLC lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 3.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,133 shares of the semiconductor manufacturer's stock after selling 1,851 shares during the period. Micron Technology accounts for 1.3% of Rice Partnership LLC's portfolio, making the stock its 25th largest holding. Rice Partnership LLC's holdings in Micron Technology were worth $7,288,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Nuveen LLC bought a new position in Micron Technology during the first quarter worth $369,191,000. Vanguard Group Inc. raised its position in shares of Micron Technology by 2.1% during the first quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock valued at $8,854,644,000 after buying an additional 2,049,163 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Micron Technology by 23.8% in the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock valued at $922,467,000 after buying an additional 2,038,641 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Micron Technology by 26.3% in the first quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock valued at $590,807,000 after buying an additional 1,416,174 shares during the period. Finally, Keystone Investors PTE Ltd. bought a new stake in shares of Micron Technology in the first quarter valued at about $96,253,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Stock Up 5.8%

Shares of NASDAQ MU opened at $196.54 on Thursday. The stock has a market cap of $220.61 billion, a PE ratio of 25.89, a PEG ratio of 0.41 and a beta of 1.56. The business has a fifty day moving average of $139.60 and a two-hundred day moving average of $112.59. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $201.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, October 3rd. Micron Technology's payout ratio is currently 6.06%.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total value of $2,460,600.00. Following the completion of the transaction, the executive vice president directly owned 131,580 shares of the company's stock, valued at $21,584,383.20. The trade was a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard M. Beyer sold 5,552 shares of Micron Technology stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $155.68, for a total value of $864,335.36. Following the completion of the transaction, the director directly owned 96,031 shares of the company's stock, valued at $14,950,106.08. This represents a 5.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,956 shares of company stock valued at $22,841,025. 0.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MU has been the subject of several research reports. Needham & Company LLC increased their target price on shares of Micron Technology from $150.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Wedbush increased their target price on shares of Micron Technology from $200.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Micron Technology from $175.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Morgan Stanley upgraded shares of Micron Technology from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $160.00 to $220.00 in a research note on Monday. Finally, Robert W. Baird lifted their price target on shares of Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Four research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $190.48.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

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